Florida Real Estate Exam Questions / with 100% Correct Answers.Terms in this set (130) Linda purchases property in Escambia County from Susan. Linda has $30,000.00 as a down payment and gets a mortgage in the amount of $150,000.00 and there is no other consideration for the transfer. How much will the doc stamp tax on the deed be?
1) $1,050.00
2) $1,260.00
3) $630.00
4) $525.00
$1,260.00
Tax calculation: $150,000 + $30,000 = $180,000/100 =
1800 (taxable $100 units) x $0.70 = $1260.00 tax due. 1 / 4
Heather has been using a roadway at the back of the 22 acres Pam owns. She has been driving down the roadway almost every day without permission for over 20 years. This is called what?1)easement appurtenant.2)easement byprescription.3)easement in gross.4)easement by necessity.2) easement by prescription When purchasing an existing condominium, the buyer must receive which of the following?1)Annual operatingbudget 2)A prospectus 3)Rules and Regulations 4)Articles ofincorporation of the association 4) Articles of incorporation of the association 2 / 4
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Todd is an 89-year-old 2) $95,000 veteran that is legally blind and partially disabled due to injuries he sustained in the military. His home has an assessed value of $150,500.How much will his taxable value be for county taxes?
1)$55,500
2)$95,000
3)$100,500
4)$110,000
A contract for deed is also 2) Land Contract called what?1) Deed in lieu of foreclosure 2) Land Contract 3)Novation 4)Sales Contract The cost of borrowing 1) Interest money is called what?1)Interest 2)Leverage 3)Capitol 4)Credit
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